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8 Jan 2014
Flash: AUD decline looks overextended - UOB Group
FXstreet.com (Barcelona) - UOB Group Market Strategists note that despite the better than expected trade data, AUD dropped to a low of 0.8894 yesterday.
Key Quotes
“However, the drop appears to be overextended and a sustained down-move is unlikely today.”
“Allow for another move lower towards 0.8885 but this should lead to a recovery to 0.8950.”
Key Quotes
“However, the drop appears to be overextended and a sustained down-move is unlikely today.”
“Allow for another move lower towards 0.8885 but this should lead to a recovery to 0.8950.”